Solano Vista

We purchased Solano Vista in October 2019 from a regional real estate group. Glendale rents had trailed greater Phoenix rent growth despite strong recent economic data. The seller had renovated the exterior but not interior units leaving untapped value-add potential. We increased rents on renovated units by more than 50%. After selling, we deferred taxable gain for investors with a 1031 exchange into another Phoenix asset.